FoxTrading

FoxTrading is a forex and cryptocurrency trading platform that operates with exclusive signals. Token holders get the benefits of the Trading Pool.

How it works:

FoxTrading team has already developed Fox Binary Signals, a platform for trading binary options. Following the recent trends, they have switched to trading both Forex and cryptocurrencies.

The trading platform gives access to exclusive and profitable trading signals from desktop and app. Those who did not participate in the ICO will have to purchase FOXT tokens to pay for the services. ICO investors get a lifetime access. Premium investors will get the benefits of auto trading service.

The auto trading algorithms have already proved themselves in Fox Binary Options. It allows users to have their trading on autopilot to have more time for everyday activities. Users will have the benefits of a having a broker for a fraction of a price a real broker would charge.

Innovation:

FoxTrading isn’t very innovative, they are just following the money. The only thing that gives them a medium score is their unique trading signals that distinguish them from their counterparts.

Innovation score: Medium

Token value:

FOXT tokens are an in-platform currency needed to pay for all services that it provides. With the increase of the user base, the demand for FOXT will go up, so will its price. To drive the gain in price even further, the platform burns a part of tokens each time a transaction is made, making FOXT a deflationary currency.

The thing that makes investing in FOXT profitable is the revenue from the Trading Pool. 15% of the total crowdsale is allocated to this pool and invested in forex or cryptocurrencies. 75% of the Trading Pool revenue is shared among ICO investors, the rest in reinvested to increase the capital.

Token value score: High

White paper:

The white paper FoxTrading presents is not very detailed. It delivers main concepts of the project very thoroughly, and justifies token profitability. But apart from that it does very little.

White paper score: Medium

Roadmap:

The company was founded in 2014 and have launched the platform in 2015. The platform, Fox Binary Signals, is live and brings in revenue. The team has decided to switch to cryptocurrency trading, though. The soft cap is almost met.

They will develop the trading algorithms by the third quarter of 2018. Once the testing is done, Trading Pool is going to be launched. The team will launch beta by the end of 2018, and will have the final version by the second quarter of 2019.

Roadmap score: Medium

Business model:

FoxTrading is entering a market with a great potential, a market they already know. Their revenue model, is probably charging fees for their services. But as nothing precise is said about it, and no marketing plan is presented, FoxTrading cannot be awarded the highest score in this category.

Business model score: Medium

Team:

The team, as presented on the official website and in the white paper, has some really good bios, but little experience is actually mentioned. Since the team has already developed a functioning platform, the company is properly staffed, but it can’t get the highest score for this category either because of bad presentation.

The advisory board, however, is presented better. It features a blockchain expert that made it to the top-5 on ICObench and a man who is listed in the top-15 on the same site. They also have a man with a vast experience in analysing ICOs for investment and a great knowledge of the Asian market.

Team score: Medium

Competitors:

Trading industry is highly profitable and highly competitive. Dozens of companies are already offering the services FoxTrading offers. The project’s only advantage seems to be the already existing service and its clientbase. They can make good use of it to start.

Competitors score: High

Overall thoughts:

FoxTrading didn’t get high scores in many categories because of presentation faults. They have a team with experience of developing and running a trading platform and some very tempting features offered to token holders.

Investing in FOXT may be risky, but the risk seems to be reasonable. Especially for investors who are into trading too, as holding FOXT gives many advantages on the platform.